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Loren Chan

At this stage, it is still uncertain when the COVID-19 pandemic would come to an end. Employers should review on the tax impact brought by different emergency workplace arrangements, such as workplace closure, mandatory self-quarantine, cancellation or postponement of international assignments.

On 29 March 2018, the Inland Revenue (Amendment) (No.3) Ordinance 2018 was gazetted to implement the two-tiered profits tax rates regime proposed by the Chief Executive. The two-tiered profits tax rates regime applies to both corporations and unincorporated businesses in any year of assessment commencing on or after 1 April 2018.